Industrial Internet-of-Things Market (IIoT) to Grow at 7.3% CAGR Driven by Increased Data Generation Using IIoT to 2020
One of the major driving factors in industrial internet-of-things market is increased data generation using IIoT; many connected devices are used in various industries to generate high-volume data. Companies use the data for cost optimization and revenue generation.
Pune, India – February 26, 2016 /MarketersMedia/ —
The analysts forecast global industrial internet-of-things market to grow at a CAGR of 7.3% during the period 2016-2020. Shift from IPv4 to IPv6 is one of the latest trends in the market. IPv6 makes the management of networks easier and offers improved security features. IPv6 can transmit more data and has a simplified, efficient routing compared to IPv4.
Complete report on industrial internet-of-things market spread across 35 pages, analyzing 6 major companies and providing 11 data exhibits is now available at http://www.reportsnreports.com/reports/496136-global-industrial-internet-of-things-market-2016-2020.html.
The global industrial internet-of-things market (IIoT) is anticipated to grow at a rapid pace during the forecast period, and the prospects for growth in this market will be driven by the increasing government support and traditional industries’ digital transformation to enhance business productivity and sustain a competitive advantage.
Recent advances in sensor technology are one of the key drivers for the growth of industrial internet-of-things market. Advances in sensor technologies and innovations in material sciences have led to the proliferation of different types of sensors. In recent times, it has been observed that the sensor technologies have advanced in terms of miniaturization, energy consumption, performance, and cost. In an industrial internet setup, sensors help to boost enterprise mobility, remote monitoring, and remote system control. These benefits will result in significant cost savings, which in turn will spur their adoption during the estimated period.
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Geographical segmentation of the industrial internet-of-things
In 2015, the APAC region dominated this market and is anticipated to grow at a CAGR of around 8% during the forecast period. Growing investments in the implementation of IIoT will spur the prospects for market growth in this region. Furthermore, with the growing utilization of industrial robots and the introduction of initiatives like the Industrial Value Chain Initiative, the market for IIoT in APAC will have a positive outlook until 2020.
The global industrial internet-of-things market competitive and is primarily dominated by the large vendors as they have access to better technologies and resources. The vendors that have the ability to offer a wide range of products and services like networking devices and network management services will gain a competitive edge over their peers.
Key players in the global industrial internet-of-things market: Cisco, GE, IBM, Intel, Rockwell Automation and RTI.
Other prominent vendors in the market are: Accenture, ARM Holdings, AT&T, Broadcom, Google, Honeywell, Huawei, Robert Bosch, Siemens and Zebra Technologies.
Further, the industrial internet-of-things market report states that data privacy is a major challenge in any organization due to the presence of many connected devices and the use of private and public networks. Increased connectivity and data sharing have created cyber security issues and data breaches.
Another related report is Global IoT Security Market 2015-2019, the analysts forecast global IoT security market to grow at a CAGR of 54.93% over the period 2014-2019. One of the major drivers in the market is the need for regulatory compliance. Companies are required to comply with regulations set by government, else it can attract heavy penalty. Hence, ensuring network security of connected devices is important. Browse complete report @ http://www.reportsnreports.com/reports/390869-global-iot-security-market-2015-2019.html.
Key players in Global IoT Security Market 2015-2019: Cisco Systems, Infineon Technologies, Intel, Siemens and Wurldtech
Other prominent vendors in the market are: Alcatel-Lucent, Axeda Machine Cloud, Broadcom, Checkpoint Technologies, Digi International, Ericsson, Eurotech, Fortinet, Gemalto, IBM, ILS Technology, Kore Wireless, NetComm Wireless, Numerex, Palo Alto Networks, Rockwell automation, Secure Crossing, Sierra Wireless, Sophos, Systech Solutions, Tofino and Ventus Wireless
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